Big reaction - they said they got 15-20m of minelab sales due to Covid (to factor in as not repeating), and that sales of a new detector can be slower in the developing world. Also as mentioned by another poster profitability tracing pcp. That is the bad news IMO. I believe a flat FY would have them on track for about 178m EBITDA, v consensus on marketscreener of 194, so 8.5% lower.
The good news is they got validation of the DTC acq, with about 60% of FY21 sales in one order, and the acqs are integrating well.
This has been trending down since before the FY results where they were tracking flat, so a lot of worry is factored in.
I think the market could be on high alert due to the resignation of the CEO, and today has been overplayed - so longed some - gulp!
CDA Price at posting:
$11.04 Sentiment: Hold Disclosure: Held
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